Incorporated and registered in the Isle of Man under the Isle of Man Companies Acts 1931 to 2004 with registered number 117001C and subsequently re-registered as a company under the Isle of Man Companies Act 2006 with registered number 006491v.
SAPO Investment Strategy
The investment strategy of the company is focused towards investing in the developing market for rural broadband.
In December 2018, OfCom published the “Connected Nations 2018 UK Report”. This report included the following statement.“Despite this progress, there are still large parts of the UK that are poorly served by communications services.
• Around 2% of UK premises cannot access a decent fixed broadband service that delivers a download speed of at least 10 Mbit/s and upload speed of at least 1 Mbit/s. However, this has improved from 4% last year.
• While 94% of UK homes and businesses are in areas where superfast, or better, broadband is available, only 45% of homes are subscribing to these services.
• 9% of UK landmass has no good 4G coverage from any operator. This has improved from 21% a year ago but rural areas are still badly affected.
• 23% of homes and businesses do not have good indoor 4G coverage from all operators.
• We also estimate that there are 39,000 homes and businesses that cannot access a decent fixed broadband service or get good 4G coverage.”
SAPO intends to target profitable rural broadband operations which can offer strong growth and expansion potential. The rural market is currently made up of small operators which the Directors believe is ripe for consolidation and they also believe the company is well positioned to execute its strategy.
Further information on the investment Strategy can be found in the Admission Document.
Michael Langoulant, Non-Executive Director
Michael Langoulant is a Chartered Accountant, corporate and financial advisor who specialises in providing corporate financial services to public companies. He has over 30 years’ experience in public company M&A, corporate administration and fundraising. He has acted as finance director, CFO, company secretary and non-executive director with a number of publicly listed companies. He was previously Chairman of ASX listed White Cliff Minerals Limited and a director of LSE listed cash shell LB-Shell plc.